[OPE-L:7552] Re: Re: Re: Re: RE: Fred's remarks on Marx, Sraffa & Rents

From: Fred B. Moseley (fmoseley@mtholyoke.edu)
Date: Tue Aug 27 2002 - 11:04:29 EDT

On Mon, 26 Aug 2002, Gil Skillman wrote:

> Date: Mon, 26 Aug 2002 13:05:36 -0400
> From: Gil Skillman <gskillman@mail.wesleyan.edu>
> Reply-To: ope-l@galaxy.csuchico.edu
> To: ope-l@galaxy.csuchico.edu
> Subject: [OPE-L:7548] Re: Re: Re: RE:  Fred's remarks on Marx,
>      Sraffa &  Rents
> Paul writes:
> >The gold industry can not be the key issue here. Assume state fiat
> >money instead if that is a problem.
> For what it's worth, I agree.  My scenario with commodity money was meant
> to be the starting point for a purely theoretical point, but it got
> sidetracked with all this discussion of historical conditions in the gold
> industry that Marx makes no mention of in K.III. Ch. 9 (which doesn't mean,
> of course, that he didn't intend to invoke them).  I'll address the
> scenario with fiat money presently.  Gil

Gil, the fact that, in a system of commodity money, the money commodity
has no price and is a scarce precious metal is not a historical
contingency, but a necessity due to the nature of money.  Marx did not
discuss the money commodity in Part 2 of Volume 3 because the money
commodity has no price of production and does not participate in the
equalization of profit rates like other industries.


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